For planning purposes, experts recommend that boards assume that a CEO search and selection process takes four to six months.

Sometimes unanticipated things happen, and boards should ask themselves: how would we want our organization to fare during that significant time period of CEO transition, planned or unplanned?

Whether or not a transition date is known, boards should answer these five questions:

1. Has a potential interim CEO been identified (or at least a list of competencies and attributes needed from an interim executive)?
2. Are the internal and external talent pools being adequately monitored?
3. Are talented insider candidates being helped to develop leadership experience?
4. Is it known who will serve on the search committee and be search chair? 
5. Is it known who will handle communications with the staff and other stakeholders once the CEO departs? 

Learn more in the CEO Search Committee Guide.